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Chevron and Shell facing hefty fines for price fixing in South Africa

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The Associated Press  June 21, 2010, 1:57PM ET

SAfrican watchdog fines oil firms on price-fixing

JOHANNESBURG

South Africa’s anti-competition watchdog says that a number of international oil giants, including Chevron and Shell, are facing hefty fines for price collusion, a punishable offense in South Africa.

South Africa’s Competition Tribunal, which investigates companies’ competition conduct, said Monday that between 2000 and 2009 oil companies Chevron, Shell, Engen, Total, Masana, Sasol and Tosas colluded in fixing their products’ prices. read more

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